Clariant targets 5% to 12% global price hikes

26 November 2007 11:11[Source: ICIS news]

LONDON (ICIS news)--Swiss specialty chemical firm Clariant said on Monday it will aim for global price increases of between 5% and 12%, although the company only achieved 1% rises in the first nine months of 2007.

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“Clariant finds itself in the position now, where further price increases are necessary to compensate for the high speed of raw material and energy cost rises,” the company said in a statement.

Arnd Wagner, the firm's spokesman, would not comment on which feedstock prices had increased most during the year.

“Feedstock prices have gone up 4% in 9 months and in the third-quarter increased 5%,” Wagner said.

Higher crude values and a shortage of intermediaries, which are imported from ?xml:namespace>China, had pushed prices up, he said.